Retail Ventures mulls sale of Value City division
December 7, 2006-- Home Textiles Today,
Columbus, Ohio – Retail Ventures Inc. (RVI) said it is exploring strategic alternatives for its Value City Department Stores operations, including a possible sale of the division.
Value City, a discount general merchandise chain, comprises 113 stores across the Mid-Atlantic, Southeastern, and Midwest regions. RVI also operates the off-price chain Filene’s Basement (31 stores) and the off-price footwear nameplate DSW (221 stores and 228 departments within other retail chains).
Home Textiles Today reported that 2005 home textiles revenues for Filene’s Basement and Value City together totaled $144.0 million.
RVI has retained Financo and CIBC World Markets as its financial advisors in the strategic review. RVI ceo Heywood Wilansky emphasized, "The 'strategic alternatives' do not include RVI's other retail divisions DSW Inc. or Filene's Basement. Those two divisions are managed separately from Value City Department Stores."
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